As the epidemic swept the world 18 months ago, my friends Jud and Lisa (not their real names) saw their wedding cake and recipes, and they all ended up in an eventful, event-oriented industry. Near where he stood.

After some serious personal and strategic soul-searching, Jud and Lisa began doing something that many business owners have done since the first quarter of 2020 and reworked their company’s business model for the realities of the epidemic. In just a few weeks, they have taken their seven-digit average annual earnings direct-to-consumer (D2C) world into a strategic direction ahead of Covid-19. .

Companies such as domestic businesses and some of the world’s leading brands have been forced to reconsider and adapt their business models on the fly. And in many cases, the new models and revenue streams that they are testing, often as a matter of survival, these companies can accurately determine what they need to meet the growing demand for their products and services, which they can get from anywhere at any time. Any device.

In the business landscape, we are seeing companies delivering successful D2C products and services based on the following practices and principles.

Determine your company’s most marketable, easily accessible asset (s), then “select” or “subscribe”.

..Home-based fitness equipment, Peloton, a member-based bike and fitness equipment supplier; He modified the highly successful business model on the fly. Using one of the unique content of several fitness educators to further build the content library. Also, BichBod, a company that specializes in fitness content on DVD, quickly moved to the streaming model.

Through B2B, companies are creating new sources of revenue around their intellectual property and institutional knowledge. A consultant, tax or legal entity, for example, may develop a subscription-based model to provide the services and advice with the traditional time and material business model. In the context of D2C or B2B, subscription-based services can provide very strong, recurring and profitable sources of revenue. For example, we see farming and artificial food suppliers offering subscription services that deliver products, dairy products and other commodities directly to people’s doorsteps.

The company’s most commercially viable asset content, wedding cakes or intellectual property, D2C digital experience is paramount. We know the customer experience of streaming services like Disney + to the latest research [discussed in this recent podcast] Customers expect a seamless, rich e-commerce experience with a variety of engagement channels, easy to navigate, easy to buy (or purchase or cancel subscription service) and boarding, and customer service is among the top priorities associated with pricing. With the right digital platform, even small companies can take the e-commerce journey to compete with the big competitors.

Build a community around your products and services.

Businesses such as Peloton and Active Clothing Company have been hit hard by the epidemic. Yori They recognize the importance of creating social communities around their products. By providing a digital environment that allows customers to easily communicate, share ideas and experiences, and by providing services to the community at no cost, companies are growing good interest with their customers as iori is doing free teacher-guided sports. Basically, instead of traditional social media marketing, companies are abandoning their sales agendas and creating real customer experiences that build community, move into lasting relationships and praise their fans.

More than expected.

One thing that stands out in the D2C world is not only the quality of the products or services that customers offer, but also the rich experiences that are built around them. Building community, providing inputs, advice and / or benefits to customers without expecting a response, strong service / advanced digital e-commerce experience – these elements help a company exceed customer expectations. So, too, your customers will have a better understanding of how well you are doing and exactly what you are expecting. Experience Management (XM) tools help companies keep their finger on the pulse of their customers by gathering quick, timely surveys and other non-intervening tips on key points in the customer journey. By regularly monitoring, measuring and determining whether customers are experiencing a product or service and the digital journey around, companies can improve and refine their offerings and experiences. This HxM experience is true, because your employees are critical to delivering a superior customer experience.

Regularly review new business models to determine their sustainability.

How are your new consumption models in terms of financial performance? Based on that performance and customer perception, is it important to continue to offer that product or service in the “next standard”? And if so, how can it be improved or refined based on customer feedback? These are questions that your company needs to answer based on hard data.

Create a fast creative cycle.

As much as most of us have spent the past 18+ months highlighting, it was amazing to see how many new features and functions the company has developed to support its increased distance work. The ability to quickly identify, design, and launch new products or services and / or new circuits is a way for companies to grow beyond the global health crisis and market turmoil. Ability to repeat and create – who knows? – Maybe your company or product is intended to be a verb to “emphasize”.

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